Daily Altcoin Price Analysis: Cryptocurrencies Are Waiting While Dash Skyrockets
While most of altcoins move slowly, Dash price has made a dramatic jump by 70% in a day.
After yesterday's rise, Litecoin dives down, trying to return to the level of $3.00.
Already at $3.08, and a trend doesn’t show signs of a stoppage or downturn. Now traders are interested in whether Litecoin stops at the level of $3.00 or falls below.
As it did yesterday, everything depends on behavior of Bitcoin. If it continues to fall, Litecoin will follow. LTC:BTC exchange rate remains a little lower than 0.008.
DASH again sets up a record with a daily growth of 70%. Thus, daily trading volumes only on Poloniex are higher than 1000 Bitcoin for several days already. The top of 0.017 gave a chance to the traders who bought DASH yesterday morning at the level of 0.01 to obtain a profit of about 70% in one day. Now the level of 0.014 is quite good, which is growth by 30% in comparison with yesterday. It seems that new level for purchase becomes the level of 0.01.
The movement of the ETH reminds us of the ability of this cryptocurrency to test the level 0.004. But, having almost gotten to 0.0039, the price was rolled back to return to a level of 0.0036. Now the level of 0.004 looks more and more important, and new tests at this level are possible.
In 2016 ETH strengthened its positions, and moved to the trade range of 0.003-0.004. Growth higher than 0.004 is improbable, thus, purchases lower than 0.0025 are potentially favorable.
Dogecoin too strengthened its positions, having returned to 40 Satoshi. There was a top at the price of 42 Satoshi. The cryptocurrency becomes interesting to purchase at price-points below 40 Satoshi as this level already confirms the durability of this level. Fixing profit is possible at a price of 43-46 Satoshi.
The price of Peercoin continues to track Bitcoin proportionally. It seems that the chart will go under the level of $0.40, where it is possible to look for opportunities for placing buy orders soon.
PPC:BTC exchange rate remains in the same place, where it was yesterday, approximately at 0.0001.
Neu didn't manage to keep the level of $3 for 1000 Neucoin, and the chart heads down for $1.5. Trading volumes remain scanty. It will be possible to speak about stabilization of the price when trading volumes grow. It is not recommended to buy Neucoin at this juncture.